Kenmar Launches Global Ag., Soft Commodities FoF

Apr 7 2008 | 2:00am ET

Rye Brook, N.Y.-based Kenmar has added to its portfolio of cleantech funds of hedge funds with the launch of a global agricultural and soft commodities fund.

The new offering debuted with some $50 million in assets and received a $100 million capital infuasion on March 1. The fund, which currently employs seven underlying managers, is designed to be aggressive, and returned 10% last month, according to Peter Fell, director of due diligence research of Kenmar's Global Eco Fund of Funds.

Fell, who last week presented an overview of the firm’s products and investment strategy at the Wall Street Green Trading Summit, said Kenmar follows capital flow, which in turn attracts talented managers, with a focus on liquidity.

“We want to be able to get out and get our money back, and not [just] part of our money back with the other part locked up in a side pocket,” he said. “Ultimately, we want to know what the beta is because we don’t want to be paying an investment firm 2/20 for something we can replicate via an ETF or a mutual fund, which we do invest in if we think we can get what we need from that kind of vehicle.”

Fell added that Kenmar is not comfortable investing where there are no peer groups or benchmarks, but will invest with experienced traders even if the market is new.

“Make as much money as you would generally make in an equity portfolio while having some virtue,” he advised the audience.

Kenmar last year launched its Global ECO Fund SPC, a Cayman Islands-based socially-responsible fund of funds. All told, the firm manages over $4 billion in eight funds of funds.


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